How's The Market? Rancho Cucamonga Real Estate Market: October 2015

It's been a while since our last market update on the Rancho Cucamonga housing market.  Wondering what's happening in the Rancho Cucamonga Real Estate Market?

For starters, prices are up and inventory is down. 

The average sales price for single family homes to date is $544,234, up from $487,131 this time last year and up 3.3% from the last quarter.  The average listing price for Rancho Cucamonga homes for sale was $535,696 for the week ending Oct 14, which represents an increase of 1%, or $5,303, compared to the prior week. Sales prices have appreciated a healthy 37.3% over the last 5 years in Rancho Cucamonga.                                                                                           

Even though inventory in Rancho Cucamonga is down year over year, the Days on Market have remained relatively the same over the past year.  Historically from the chart you can see that November and December shows the lowest number of new listings.  Making those 2 months the best time to put your house on the Market.  

• Less competing new Listings on the Market
• Houses tend to show better during the Holidays
• Typically only the most serious Buyers look for a home during the Holidays

The average rent price in Rancho Cucamonga is $2,182.  The Multiple Listing Service (MLS) currently shows 160 active rentals/leases available in Rancho Cucamonga ranging from a 1 bedroom, 1 bath condo for $1,200 mo. up to a 5 bedroom, 6.5 bath single family estate for $6,000 a month.

Evaluating the numbers gives us a good start at understanding the housing market, but while numbers don't lie, they don't always paint the whole picture.  That's why this month I'd like to open the topic of the Rancho Cucamonga Real Estate Market up to other local agents reading this.  If you are an agent in Rancho Cucamonga, please feel free to comment below on what you feel is happening in the Rancho Cucamonga Real Estate Market.  I invite you to add your voice.  Where's the Rancho Cucamonga Real Estate Market heading in your opinion?